Admiral shares up as insurer issues £110m refund to customers during lockdown April 21, 2020 Shares in Admiral jumped three per cent today after the insurer announced it will refund £110m to customers as the coronavirus lockdown has reduced the need for car travel. Admiral said this morning that there are fewer cars on the road, and therefore it expects to receive fewer insurance claims. The insurance company will refund [...]
Richard Branson hits out as Virgin Australia goes into administration April 21, 2020 Billionaire businessman Sir Richard Branson has hit out at the Australian government after low-cost airline Virgin Australia went into administration this morning. In an open letter, Branson, whose Virgin group owns 10 per cent of the airline, wrote: “In most countries federal governments have stepped in, in this unprecedented crisis for aviation, to help their [...]
Crypto AM shines its Spotlight on Moneybrain BiPS April 21, 2020 What if Libra Was Live Today? The world was in a different kind of uproar for months after Facebook and their alliance announced Libra. Then it was that senators were foaming at the mouth and it was the central banks that came close to rioting. Amid similar Trump-inspired scenes of protest on the streets of [...]
Cash is king…until it isn’t April 21, 2020 George Zarya is the CEO of cryptocurrency exchange BEQUANT. Founded in May 2018, BEQUANT Exchange averages over a billion dollars in monthly volume with more than 200 active institutional clients. The ongoing fight of the Covid-19 pandemic has accelerated the global trend towards cashless society. Here he argues the case that the days of cash [...]
Polling shows three-in-four people want post-coronavirus tax cuts April 20, 2020 Almost three-in-four people want to see tax cuts to reboot the economy after the coronavirus crisis, according to new polling. A poll by Survation/Adam Smith Institute showed there was overwhelming support, 72 per cent of people, for a reduction in taxes to “try and increase economic growth and jobs”, particularly among younger adults. Of those [...]
FTSE 100 dragged down by coronavirus oil crash April 20, 2020 The FTSE 100 has turned lower as a slump in oil prices hits energy companies and investor sentiment sours with coronavirus battering the economy. Britain’s FTSE 100 was down 0.8 per cent at 5,743 points in early afternoon trading. It spent much of the morning in the green before plunging oil prices spread gloom over [...]
Coronavirus: UK household finances in worst state since 2011 April 20, 2020 UK households said their finances were in the worst position since 2011 in March as coronavirus battered the economy, according to a new survey. Households also reported that their income from employment plunged at the fastest rate in at least 11 years and fears about job security spiked. The household finance index from data firm [...]
Boris Johnson’s cabinet split over coronavirus lockdown period April 20, 2020 Boris Johnson is reportedly dealing with a cabinet split between those who want to end the coronavirus lockdown early and those who want to take a more cautious approach. Various media reports over the weekend said chancellor Rishi Sunak and Cabinet Office minister Michael Gove were pushing for the lockdown to be eased to avoid [...]
Coronavirus: Bank of England says 35 per cent GDP drop ‘not unrealistic’ April 20, 2020 A Bank of England deputy governor has said the economy could shrink by 35 per cent in the second quarter if the coronavirus lockdown lasts three months, saying the scenario produced last week by the UK’s budget watchdog was not “unrealistic”. The Office for Budget Responsibility (OBR) said the UK economy could contract by 35 [...]
Richard Branson warns Virgin Atlantic needs coronavirus loan to survive April 20, 2020 Virgin Atlantic owner Sir Richard Branson has warned that the beleaguered airline will need government financial support in order to survive the coronavirus crisis. In a blog post to Virgin employees, Branson said: “The reality of this unprecedented crisis is that many airlines around the world need government support and many have already received it. “We will [...]